As Bitcoin broke through $110,000, setting a new all-time high, cryptocurrency-related stocks in the domestic market showed a clear stock price trend. In particular, stocks directly holding Bitcoin demonstrated a notable upward movement, while some stocks declined due to profit-taking and poor business conditions.
Looking at the stock price fluctuations over the past month (April 23, 2025 to May 23), the highest-rising stock was 'Bitmex'. Bitmex is promoting a new business with Bitcoin as its core strategic asset and currently holds approximately 165 Bitcoins. During this period, its stock price rose by 52.34%.
Dunamu (Upbit) related stocks also showed strength. 'Hanhwa Investment Securities' rose by 28.95%, and 'Woori Technology Investment' increased by 10.95%. Both stocks hold a 6.15% stake in Dunamu, the operator of the virtual asset exchange Upbit, which raised expectations for benefits.
'Danal' also recorded a 22.99% increase. This is analyzed as reflecting market expectations for the performance of the payment service 'PayCoin (PCI)' operated by its subsidiary Danal Fintech.
'SK Square' rose by 16.01%, 'Comtus Holdings' by 7.00%, 'Galaxia Money Tree' by 2.83%, and 'ATinum Invest' by 2.58%. SK Square invested 90 billion won in the virtual asset exchange 'Cobbit', while Comtus Holdings is actively expanding its blockchain business.
In contrast, Wemade declined by 14.79%. Although Wemade holds its own cryptocurrency WEMIX and approximately 223 Bitcoins, its stock price fell due to the overall market adjustment of games and coins. 'T Scientific' also showed a poor performance, declining by 2.82%. This stock holds shares in the operator of the virtual asset exchange Bithumb.
An industry official explained, "Cryptocurrency-related stocks are showing mixed performance not only due to Bitcoin prices but also depending on each company's business structure, strategy, and actual asset holdings," adding, "Particularly, companies that actually hold Bitcoin are relatively attracting investors' attention."
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